SBI Securities Co. Ltd. Buys New Position in McKesson Co. (NYSE:MCK)

SBI Securities Co. Ltd. bought a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 547 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in shares of McKesson by 31.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,655 shares of the company’s stock valued at $3,793,000 after acquiring an additional 1,604 shares in the last quarter. Modera Wealth Management LLC raised its holdings in McKesson by 836.2% in the fourth quarter. Modera Wealth Management LLC now owns 7,499 shares of the company’s stock worth $4,274,000 after purchasing an additional 6,698 shares in the last quarter. Firetrail Investments PTY Ltd. raised its holdings in McKesson by 4.0% in the fourth quarter. Firetrail Investments PTY Ltd. now owns 24,955 shares of the company’s stock worth $14,274,000 after purchasing an additional 961 shares in the last quarter. Kinsale Capital Group Inc. raised its holdings in McKesson by 12.7% in the fourth quarter. Kinsale Capital Group Inc. now owns 12,076 shares of the company’s stock worth $6,882,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in McKesson by 13.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,389 shares of the company’s stock worth $793,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCK. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Performance

NYSE MCK opened at $640.39 on Thursday. McKesson Co. has a one year low of $464.42 and a one year high of $653.92. The stock has a 50-day moving average of $598.01 and a 200 day moving average of $566.15. The company has a market capitalization of $80.26 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is owned by corporate insiders.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.